OÅering Circular Supplement $816,886,113 Freddie MacOÅering Circular Supplement $816,886,113 (To...

OÅering Circular Supplement $816,886,113(To OÅering CircularDated June 1, 2003) Freddie Mac

Multiclass CertiÑcates, Series 3059

OÅered Classes: REMIC Classes shown below and MACR Classes shown on Appendix A

OÅering Terms: The underwriter named below is oÅering the Classes in negotiated transactions at varying prices

Closing Date: October 28, 2005

REMIC Original Principal Class Interest CUSIP Final Payment REMIC Original Principal Class Interest CUSIP Final PaymentClasses Balance Type(1) Coupon Type(1) Number Date Classes Balance Type(1) Coupon Type(1) Number Date

Group 1 CD ÏÏÏÏ $ 28,661,000 PAC I 5.0% FIX 31396CE48 April 15, 2031AA ÏÏÏÏ $ 8,988,000 SUP/RTL 5.5% FIX 31396CD64 May 15, 2035 CE ÏÏÏÏ 40,780,000 PAC I 5.0 FIX 31396CE55 February 15, 2034DS ÏÏÏÏ 3,471,000 SUP (2) INV/S/DLY 31396CEG1 May 15, 2035 FMÏÏÏÏ 17,850,333 SUP (2) FLT/DLY 31396CES5 September 15, 2033EI ÏÏÏÏ 44,636,000 NTL(PAC I) 5.5 FIX/IO 31396CEN6 October 15, 2035 FWÏÏÏÏ 41,680,640 SUP (2) FLT 31396CET3 October 15, 2035EO ÏÏÏÏ 44,636,000 PAC I 0.0 PO 31396CEP1 October 15, 2035 GI ÏÏÏÏ 28,580,000 NTL(PAC I) 5.0 FIX/IO 31396CEV8 October 15, 2035FA ÏÏÏÏ 600,000 SUP (2) FLT/DLY 31396CEQ9 May 15, 2035 GOÏÏÏÏ 28,580,000 PAC I 0.0 PO 31396CEW6 October 15, 2035FD ÏÏÏÏ 23,088,000 SUP (2) FLT/DLY 31396CER7 May 15, 2035 JA ÏÏÏÏ 5,549,000 PAC II 5.0 FIX 31396C F 3 9 October 15, 2035GAÏÏÏÏ 8,534,000 SUP 5.5 FIX 31396CEU0 May 15, 2035 JZ ÏÏÏÏ 1,000 PAC II 5.0 FIX/Z 31396C F 4 7 October 15, 2035IT ÏÏÏÏ 1,399,525 NTL(SCH) 5.5 FIX/IO 31396C F 2 1 October 15, 2035 SK ÏÏÏÏ 100,000 SUP (2) INV/DLY 31396CG46 September 15, 2033PA ÏÏÏÏ 152,439,000 PAC I 5.5 FIX 31396CFS4 October 15, 2026 SMÏÏÏÏ 4,841,000 SUP (2) INV/S/DLY 31396CG53 September 15, 2033PB ÏÏÏÏ 45,739,000 PAC I 5.5 FIX 31396CFT2 July 15, 2029 SWÏÏÏÏ 5,683,723 SUP (2) INV/S 31396CG61 October 15, 2035PC ÏÏÏÏ 51,481,000 PAC I 5.5 FIX 31396CFU9 January 15, 2032 WA ÏÏÏ 660,667 SUP 5.5 FIX 31396CG79 September 15, 2033PD ÏÏÏÏ 54,579,000 PAC I 5.5 FIX 31396CFV7 April 15, 2034 WO ÏÏÏ 7,281,637 SUP 0.0 PO 31396CG87 October 15, 2035PO ÏÏÏÏ 2,990,435 SUP 0.0 PO 31396CFX3 October 15, 2035 WW ÏÏÏ 2,000,000 SUP/RTL 5.5 FIX 31396CG95 September 15, 2033SA ÏÏÏÏ 600,000 SUP (2) INV/DLY 31396CG20 May 15, 2035

Group 3SD ÏÏÏÏ 4,719,000 SUP (2) INV/S/DLY 31396CG38 May 15, 2035B ÏÏÏÏ 981,922 SCH 5.0 FIX 31396CDL1 February 15, 2035YX ÏÏÏÏ 53,135,565 CPT/SCH/PAC II 5.5 FIX 31396CGA2 October 15, 2035MRÏÏÏÏ 25,000,000 SCH 5.0 FIX 31396CFR6 September 15, 2034ZC ÏÏÏÏ 30,000,000 TAC 5.75 FIX/Z 31396CGB0 October 15, 2035ZMÏÏÏÏ 904,191 SUP 5.0 FIX/Z 31396CGD6 February 15, 2035ZD ÏÏÏÏ 5,000,000 SUP 5.75 FIX/Z 31396CGC8 October 15, 2035

Group 2 ResidualCA ÏÏÏÏ 83,438,000 PAC I 5.0 FIX 31396CE22 March 15, 2025 R ÏÏÏÏ 0 NPR 0.0 NPR 31396CFY1 October 15, 2035CB ÏÏÏÏ 32,893,000 PAC I 5.0 FIX 31396CE30 October 15, 2028 RS ÏÏÏÏ 0 NPR 0.0 NPR 31396CFZ8 October 15, 2035

(1) See Appendix II to the OÅering Circular and Payments Ì Categories of Classes.(2) See Terms Sheet Ì Interest.

The CertiÑcates may not be suitable investments for you. You should not purchase CertiÑcates unless you have carefully

considered and are able to bear the associated prepayment, interest rate, yield and market risks of investing in them.

Certain Risk Considerations on page S-2 highlights some of these risks.

You should purchase CertiÑcates only if you have read and understood this Supplement, the attached OÅering Circular

and the documents listed under Available Information.

We guarantee principal and interest payments on the CertiÑcates. These payments are not guaranteed by and are not

debts or obligations of the United States or any federal agency or instrumentality other than Freddie Mac. The

CertiÑcates are not tax-exempt. Because of applicable securities law exemptions, we have not registered the CertiÑcates

with any federal or state securities commission. No securities commission has reviewed this Supplement.

Barclays Capital

September 29, 2005

CERTAIN RISK CONSIDERATIONS

Although we guarantee the payments on the CertiÑcates, and so bear the associated credit risk,

as an investor you will bear the other risks of owning mortgage securities. This section highlights

some of these risks. You should also read Risk Factors and Prepayment, Yield and Suitability

Considerations in the OÅering Circular for further discussions of these risks.

The CertiÑcates May Not be Suitable Investments for You. The CertiÑcates are complex

securities. You should not purchase CertiÑcates unless you are able to understand and bear the

associated prepayment, interest rate, yield and market risks.

In particular, the Interest Only, Principal Only, Inverse Floating Rate, Support, Component,

Accrual, Retail and Residual Classes have special risks and are not suitable for all investors.

Prepayments Can Reduce Your Yield. The yield on your CertiÑcates could be lower than you

expect if:

‚ You buy your CertiÑcates at a premium over their principal amount and principal

payments are faster than you expect.

‚ You buy your CertiÑcates at a discount to their principal amount and principal

payments are slower than you expect. This is especially true for a Principal Only Class.

If you buy an Interest Only Class and prepayments are fast, you may not even recover your

investment.

LIBOR Levels Can Reduce Your Yield if You Own a Floating Rate or Inverse Floating Rate

Class. The yield on your CertiÑcates could be lower than you expect if:

‚ You buy a Floating Rate Class and LIBOR levels are lower than you expect.

‚ You buy an Inverse Floating Rate Class and LIBOR levels are higher than you expect.

Retail Classes Have Special Payment Rules. If you invest in a Retail Class, you will receive

principal payments in $1,000 increments called ""Retail Class Units,'' subject to the priorities and

limitations described in Appendix IV to the OÅering Circular. The weighted average lives and yields

of individual Retail Class Units will vary among diÅerent investors.

The CertiÑcates are Subject to Market Risks. You will bear all of the market risks of your

investment. The market value of your CertiÑcates will vary over time, primarily in response to

changes in prevailing interest rates. If you sell your CertiÑcates when their market value is low, you

may experience signiÑcant losses. The underwriter named on the front cover (the ""Underwriter'')

intends to make a market for the purchase and sale of the CertiÑcates after they are issued, but has

no obligation to do so. A secondary market may not develop. Even if one does develop, it may not be

liquid enough to allow you to sell your CertiÑcates easily or at your desired price.

Our Multiclass CertiÑcates OÅering Circular dated June 1, 2003 (the ""OÅering Circular''),

attached to this Supplement, deÑnes many of the terms we use in this Supplement.

S-2

TERMS SHEET

This Terms Sheet contains selected information about this Series. You should refer to the

remainder of this Supplement for further information.

In this Supplement, we refer to Classes only by their letter designations. For example, ""R''

refers to the R Class of this Series.

Payment Dates

We make payments of principal and interest on the CertiÑcates on each monthly Payment Date

beginning in November 2005.

Form of Classes

Regular (non-Retail) and MACR Classes: Book-entry on Fed System

Retail Classes: Book-entry on DTC System; issued and paid in $1,000 Retail Class Units

Residual Classes: CertiÑcated

Interest

The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover and

Appendix A.

The following are Principal Only Classes and do not bear interest:

Group Class

1 EO and PO2 GO and WO

The Floating Rate and Inverse Floating Rate Classes bear interest as shown in the following

table. The initial Class Coupons apply only to the Ñrst Accrual Period. We determine LIBOR using

the BBA Method.

Class Coupon Subject toInitial ClassClass Coupon Class Coupon Formula Minimum Rate Maximum Rate

Group 1

DS*ÏÏÏÏÏÏ 7.0833333% 13.5% ¿ (LIBOR £ 1.66666667) 3.0% 13.5%FA*ÏÏÏÏÏÏ 4.65 LIBOR ° 0.8% 0.8 7.0FD*ÏÏÏÏÏÏ 4.55 LIBOR ° 0.7% 0 7.0SA*ÏÏÏÏÏÏ 6.35 10.2% ¿ LIBOR 4.0 10.2SD*ÏÏÏÏÏÏ 8.9833332 23.1% ¿ (LIBOR £ 3.6666667) 0 23.1Group 2

FM* ÏÏÏÏÏ 4.55 LIBOR ° 0.8% 0.8 7.0FW ÏÏÏÏÏÏ 4.95 LIBOR ° 1.2% 1.2 6.25SK*ÏÏÏÏÏÏ 6.45 10.2% ¿ LIBOR 4.0 10.2SM* ÏÏÏÏÏ 8.9833333 22.73333333% ¿ (LIBOR £ 3.66666667) 0 22.73333333SW ÏÏÏÏÏÏ 9.5333337 37.03333686% ¿ (LIBOR £ 7.33333415) 0 37.03333686

* Delay Class.

See Appendix V to the OÅering Circular and Payments Ì Interest.

S-3

Notional ClassesOriginal Notional

Class Principal Amount Reduces Proportionately With

Group 1AI* $27,716,181 PA (PAC I)BI* 8,316,181 PB (PAC I)DI* 9,360,181 PC (PAC I)EI 44,636,000 EO (PAC I)IT 1,399,525 YX-2 (SCH)KI* 36,032,363 PA and PB, as a whole (PAC I)

A $36,032,364 PA and PB, as a whole (PAC I)5,428,905 PC (PAC I)

BMI*$41,461,269

D

Group 2GI $28,580,000 GO (PAC I)IA* 23,266,200 CA and CB, as a whole (PAC I)IB* 6,578,600 CB (PAC I)IM* 16,687,600 CA (PAC I)

* MACR Class.

See Payments Ì Interest Ì Notional Classes.

Components

Designation Original Balance Principal Type

YX-1 $22,346,000 PAC IIYX-2 30,789,565 SCH

$53,135,565

See Payments Ì Principal Ì Components.

MACR Classes

This Series includes MACR Classes. Appendix A shows the characteristics of the MACR

Classes and the Combinations of REMIC and MACR Classes.

See Appendix III to the OÅering Circular for a description of MACR CertiÑcates and

exchange procedures and fees.

Principal

REMIC Classes

On each Payment Date, we pay:

Group 1

‚ The ZC and ZD Accrual Amounts (while YX-2 is outstanding) in the following order

of priority:

A

ScheduledB 1. To YX-2, until reduced to its Targeted BalanceD

A

TACB 2. To ZC, until reduced to its Targeted BalanceD

A

SupportB 3. To ZD, until retiredD

S-4

A

AccrualB 4. To ZCD

‚ The Group 1 Asset Principal Amount in the following order of priority:

A 1. To PA, PB, PC, PD and EO, in that order, until reduced to their Aggregate TargetedType I PAC

B

D Balance

A

Type II PACB 2. To YX-1, until reduced to its Targeted BalanceD

A 3. Up to 50% of the remaining Group 1 Asset Principal Amount to AA, DS, FA, FD,Support

B

D GA, SA and SD, pro rata, until retired

4. Concurrently:

A

SupportB a. 4.3478264030% to PO, until retiredD

b. 95.6521735970% as follows:

A

ScheduledB i. To YX-2, until reduced to its Targeted BalanceD

A

TACB ii. To ZC, until reduced to its Targeted BalanceD

A

SupportB iii. To ZD, until retiredD

A

TACB iv. To ZC, until retiredD

A

ScheduledB v. To YX-2, until retiredD

A

Type II PACB 5. To YX-1, until retiredD

A

Type I PACB 6. To PA, PB, PC, PD and EO, in that order, until retiredD

Group 2

AType II PACB ‚ The JZ Accrual Amount to JA, until retired, and then to JZand AccrualD


A 1. To CA, CB, CD, CE and GO, in that order, until reduced to their AggregateType I PAC

B

D Targeted Balance

A

Type II PACB 2. To JA and JZ, in that order, until reduced to their Aggregate Targeted BalanceD

A 3. Concurrently:

a. 90.9090901146% as follows:

i. Concurrently, until FM, SK, SM, WA and WW are retired:

SupportB A. 90.0063653724% to FM, SK, SM, WA and WW, pro rata

B. 9.9936346276% to FW and SW, pro rata

ii. To FW and SW, pro rata, until retired

D b. 9.0909098854% to WO, until retired

S-5

A

Type II PACB 4. To JA and JZ, in that order, until retiredD

A

Type I PACB 5. To CA, CB, CD, CE and GO, in that order, until retiredD

Group 3

A ‚ The ZM Accrual Amount to MR and B, in that order, until reduced to their AggregateScheduledBand AccrualD Targeted Balance, and then to ZM


A

ScheduledB 1. To MR and B, in that order, until reduced to their Aggregate Targeted BalanceD

A

SupportB 2. To ZM, until retiredD

A

ScheduledB 3. To MR and B, in that order, until retiredD

The ""Aggregate Targeted Balances'' and ""Targeted Balances'' are in Appendix B. They were

calculated using the following Structuring Ranges and Rate.Structuring Range or Rate

Group 1Type I PAC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100% PSA - 250% PSAType II PAC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 119% PSA - 200% PSAScheduled ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 160% PSA - 225% PSATAC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 275% PSA

Group 2Type I PAC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100% PSA - 250% PSAType II PAC (Aggregate) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 109% PSA - 250% PSA

Group 3Scheduled ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 650% PSA - 700% PSA*

* B has an EÅective Range that diÅers from this Structuring Range and MR does not adhere to this schedule at anyconstant percentage of PSA.

See Payments Ì Principal and Prepayment and Yield Analysis.

MACR Classes

On each Payment Date when MACR CertiÑcates are outstanding, we allocate principal

payments from the applicable REMIC CertiÑcates to the related MACR CertiÑcates that are

entitled to principal, as described under MACR CertiÑcates in the OÅering Circular.

Retail Classes

AA and WW are Retail Classes. If you own a Retail Class, you will receive principal payments

in $1,000 Retail Class Units, as described in Appendix IV to the OÅering Circular.

See Prepayment and Yield Analysis Ì Prepayment and Weighted Average Life Considera-

tions Ì Retail Classes.

REMIC Status

We will form an Upper-Tier REMIC Pool and a Lower-Tier REMIC Pool for this Series. We

will elect to treat each REMIC Pool as a REMIC under the Code. R and RS will be ""Residual

S-6

Classes'' and the other Classes shown on the front cover will be ""Regular Classes.'' The Residual

Classes will be subject to transfer restrictions. See Certain Federal Income Tax Consequences in this

Supplement and the OÅering Circular.

Weighted Average Lives (in years)*

Group 1PSA Prepayment Assumption

0% 100% 170% 250% 500%

AA**, DS, FA, FD, GA, SA and SDÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 28.3 19.3 8.1 2.0 0.7AB, AC, AD, AE, AG, AH, AI, AJ, AK and PA ÏÏÏ 10.8 2.6 2.6 2.6 1.9BA, BC, BD, BE, BG, BH, BI, BJ, BK and PB ÏÏÏÏÏ 19.0 6.0 6.0 6.0 3.3DA, DB, DC, DE, DG, DH, DI, DJ, DK and PC ÏÏÏ 21.5 8.0 8.0 8.0 4.1EI, EO and PEÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 25.5 17.6 17.6 17.6 9.5IT ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 6.1 6.1 3.0 3.0 1.3KA, KB, KC, KD, KE, KG, KH, KI, KJ and KL ÏÏÏ 12.7 3.4 3.4 3.4 2.2MA, MB, MC, MD, ME, MG, MH, MI, MJ

and MKÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 13.9 4.0 4.0 4.0 2.5PD ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 23.7 11.0 11.0 11.0 5.7PO ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 28.7 21.4 12.4 2.9 1.0YX ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 14.7 8.3 3.0 3.0 1.4ZC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 28.5 20.4 16.7 2.3 0.8ZD ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 29.9 27.9 26.3 5.7 0.2Group 1 Assets ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 20.5 10.5 7.7 5.8 3.1


0% 100% 200% 250% 400%

AM, AN, AP, AT, CA and IMÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9.7 2.7 2.7 2.7 2.5BM, BN, BP, BT, CB and IB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 17.8 6.0 6.0 6.0 4.3CD ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 20.6 8.0 8.0 8.0 5.4CE ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 23.1 11.0 11.0 11.0 7.3CG, GI and GOÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 25.3 17.9 17.9 17.9 12.2EA, EB, EC, ED, EG and IA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 12.0 3.7 3.7 3.7 3.0FM, SK, SM, WA and WW** ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 27.1 15.2 1.9 1.4 0.9FW and SW ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 28.9 23.1 10.1 4.1 2.1JAÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 26.1 10.6 3.0 3.0 2.3JZÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 26.3 11.6 5.8 5.8 3.0WO ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 28.2 20.4 7.3 3.1 1.7Group 2 Assets ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 20.2 11.0 7.4 6.3 4.3


0% 100% 311% 500% 700%

BÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 26.0 21.2 11.4 8.1 7.8MRÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 16.2 8.5 3.6 2.2 1.8ZMÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 27.1 24.7 16.0 10.3 0.4Group 3 Assets ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 17.9 10.3 4.5 2.8 1.9

* We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actualweighted average lives are likely to diÅer from those shown, perhaps signiÑcantly.

** The weighted average lives for each Retail Class apply to that Class as a whole. The weighted average lives of Retail ClassUnits will vary among diÅerent investors.

S-7

The Assets

The ""Assets'' consist of Freddie Mac PCs and Stripped Giant CertiÑcates.

‚ The Group 1 and Group 2 Assets consist of Freddie Mac PCs with the following

characteristics:

Original TermGroup Principal Balance (in years) Interest Rate

1 $490,000,000 30 5.5%2 300,000,000 30 5.0

‚ The Group 3 Assets consist of $26,886,113 of Freddie Mac Stripped Giant CertiÑcates

with a weighted average interest rate of 5.0% per annum, backed by Freddie Mac 6.0%

per annum 30-year PCs. The Underwriter expects these Stripped Giant CertiÑcates to

be from our Gold MACS (ModiÑable And Combinable Securities), Series 228.

The Assets of this Series also include a $1,999.98 Retail Rounding Account, which we will use

for principal payments on the Retail Classes as described in Appendix IV to the OÅering Circular.

See General Information Ì Structure of Transaction.

We will publish a Supplemental Statement applicable to this Series shortly after the Closing

Date. The Supplemental Statement will contain a schedule of the Assets and other information. See

Available Information.

Assumed Mortgage Characteristics (as of October 1, 2005)

Remaining Term Per Annumto Maturity Loan Age Per Annum Interest Rate

Group Principal Balance (in months) (in months) Interest Rate of Related PCs

1 $490,000,000 345 12 5.910% 5.5%2 300,000,000 356 3 5.700 5.03 26,886,113 335 20 6.396 6.0

The actual characteristics of the Mortgages diÅer from those shown, in some cases

signiÑcantly.

See General Information Ì The Mortgages.

S-8

AVAILABLE INFORMATION

You should purchase CertiÑcates only if you have read and understood this Supplement, the

OÅering Circular and the following documents:

‚ Our Mortgage Participation CertiÑcates OÅering Circular dated October 14, 2005,

which describes Gold PCs generally.

‚ Our Giant and Other Pass-Through CertiÑcates OÅering Circular dated September 1,

2005, which describes Gold Giant PCs and Stripped Giant CertiÑcates generally.

‚ If you are investing in a Group 3 Class, our OÅering Circular Supplement for the

underlying Stripped Giant CertiÑcates.

‚ Our Information Statement dated June 14, 2005 and any subsequent Information

Statement and Information Statement Supplements published through the time of

purchase.

This Supplement incorporates by reference the documents listed above. We will also publish a

Supplemental Statement applicable to this Series shortly after the Closing Date. The Supplemental

Statement will contain a schedule of the Assets and other information. You should rely only on the

most current information provided or incorporated by reference in this Supplement and any

applicable Supplemental Statement.

You can obtain the documents listed above, the Agreement and current information concerning

the Assets and the CertiÑcates from our Investor Inquiry Department or our Internet Web-Site as

described on page 3 of the OÅering Circular. You can also obtain the documents listed above from

the Underwriter at:

Barclays Capital Inc.

Attn: MBS Syndicate Operations

200 Cedar Knolls Road

Whippany, NJ 07981

(973) 576-3006

GENERAL INFORMATION

The Agreement

We will create the CertiÑcates under the Multiclass CertiÑcates Agreement dated June 1, 2003

and a Terms Supplement dated the Closing Date (together, the ""Agreement'').

You should refer to the Agreement for a complete description of your rights and obligations and

those of Freddie Mac. You will acquire your CertiÑcates subject to the terms and conditions of the

Agreement, including the Terms Supplement.

Form of CertiÑcates

The non-Retail Regular and MACR Classes are issued, held and transferable on the Fed

System. Each Retail Class is issued, held and transferable on the DTC System in $1,000 Retail

Class Units. The Residual Classes are issued and held in certiÑcated form and are transferable at the

oÇce of the Registrar.

S-9

Only a Fed Participant can be a Holder of a non-Retail Regular or MACR Class. DTC or its

nominee is the Holder of each Retail Class. As an investor in CertiÑcates, you are not necessarily

the Holder.

See Description of CertiÑcates Ì Form, Holders and Payment Procedures in the OÅering

Circular.

Denominations of CertiÑcates

The Inverse Floating Rate Classes will be issued, and may be held and transferred, in minimum

original principal amounts of $100,000 and additional increments of $1. See Description of

CertiÑcates Ì Form, Holders and Payment Procedures in the OÅering Circular for the minimum

denominations of the other Classes.

Structure of Transaction

General

This Series is a Double-Tier Series, structured as follows:

REMIC Pool Classes Issued from REMIC Pool REMIC Pool Assets

Upper-Tier All Regular Classes and R All Lower-Tier regular interestsand Retail Rounding Account

Lower-Tier RS The Assets

See Description of CertiÑcates Ì REMIC Pool Structures in the OÅering Circular.

The Assets

The Assets are, or are backed by, Gold PCs and/or Gold Giant PCs.

The Mortgages

The Mortgages underlying the Assets (the ""Mortgages'') are Ñxed-rate, Ñrst lien residential

mortgages and mortgage participations.

For purposes of this Supplement, we have made certain assumptions regarding the Mortgages,

as shown under Terms Sheet Ì Assumed Mortgage Characteristics. However, the actual character-

istics of most of the Mortgages diÅer from those assumed, perhaps signiÑcantly. This is the case

even if the weighted average characteristics of the Mortgages are the same as those of mortgages

having the characteristics assumed.

We may furnish some or all of the Assets from our own portfolio. Assets from our portfolio, or

from other sources, may emphasize speciÑc Mortgage characteristics, such as loan purpose, source

of origination, geographic distribution or loan size, or speciÑc borrower characteristics, such as credit

rating or equity in the property. You can obtain information about the underlying Mortgage

characteristics for the Assets from our Internet Web-Site.

S-10

PAYMENTS

Payment Dates; Record Dates

We make payments of principal and interest on the CertiÑcates on each Payment Date,

beginning in the month following the Closing Date. A ""Payment Date'' is the 15th of each month

or, if the 15th is not a Business Day, the next Business Day.

On each Payment Date, any payment on a CertiÑcate is made to the Holder of record as of the

end of the preceding calendar month (a ""Record Date'').

On each Payment Date, DTC remits payments on the Retail Classes to those DTC Participants

that held Retail Class Units of record as of the related Record Date.

Method of Payment

You will receive payments on your CertiÑcates in the manner described under Description of

CertiÑcates Ì Form, Holders and Payment Procedures in the OÅering Circular.

Categories of Classes

For purposes of principal and interest payments, we have categorized the Classes as shown

under ""Principal Type'' and ""Interest Type'' on the front cover and Appendix A. Appendix II to the

OÅering Circular explains the abbreviations used for categories of Classes.

The following deÑnition also applies to certain Classes of this Series:

Freddie MacStandard

Abbreviation Category of Class DeÑnition

S Structured Formula Floating Rate and Inverse Floating Rate Classes withClass Coupons that are periodically reset using a formula otherthan an Index (without any multiplier) plus a constant, in thecase of Floating Rate Classes, or a constant minus an Index(without any multiplier), in the case of Inverse Floating RateClasses, and which are not designated as Toggle Classes.

Interest

We pay 30 days' interest on each Payment Date to the Holders of each Class on which interest

has accrued, except that the Accrual Classes receive payments as described below. We calculate

each interest payment on the outstanding balance of the Class as of the related Record Date and on

the basis of a 360-day year of twelve 30-day months.

Accrual Period

The ""Accrual Period'' for each Payment Date is:

‚ For Fixed Rate and Delay Classes Ì the preceding calendar month.

‚ For Floating Rate and Inverse Floating Rate Classes other than Delay Classes Ì from

the 15th of the preceding month to the 15th of the month of that Payment Date.

S-11

Fixed Rate Classes

The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover and

Appendix A.

Principal Only Classes

The Principal Only Classes are shown under Terms Sheet Ì Interest. They do not bear interest.

Notional Classes

The Notional Classes do not receive principal payments. For calculating interest payments, the

Notional Classes have notional principal amounts that will reduce as shown under Terms Sheet Ì

Notional Classes.

Floating Rate and Inverse Floating Rate Classes

The Floating Rate and Inverse Floating Rate Classes bear interest as shown under Terms

Sheet Ì Interest. Their Class Coupons are based on one-month LIBOR.

We determine LIBOR and calculate the Class Coupons for the Floating Rate and Inverse

Floating Rate Classes as described in Appendix V to the OÅering Circular.

Accrual Classes

JZ, ZC, ZD and ZM are Accrual Classes. JZ and ZM do not receive interest payments; and

ZC and ZD do not receive interest payments until YX-2 is retired. Interest accrued on each Accrual

Class during each Accrual Period, and not payable as interest, is added to its principal amount on

the related Payment Date. We pay principal on each Accrual Class, including accrued interest that

has been added to its principal amount, as described under Terms Sheet Ì Principal.

Principal

We pay principal on each Payment Date to the Holders of the Classes on which principal is

then due. Holders receive principal payments on a pro rata basis among the CertiÑcates of their

Class, subject to special allocation procedures for investors in a Retail Class.

Amount of Payments

The principal payments on the CertiÑcates on each Payment Date equal:

‚ The amount of interest accrued on each Accrual Class during the related Accrual

Period and not payable as interest on that Payment Date (the ""JZ Accrual Amount,''

the ""ZC Accrual Amount'' and so forth).

‚ The amount of principal required to be paid in the same month on the Assets of each

Group (the ""Group 1 Asset Principal Amount,'' the ""Group 2 Asset Principal

Amount'' and so forth).

Allocation of Payments

On each Payment Date, we pay the Accrual Amounts and the Asset Principal Amounts for

that Payment Date as described under Terms Sheet Ì Principal. Principal allocable to the Classes

S-12

receiving payments from a particular Asset Group will be allocated only to those Classes and will

not be available for Classes receiving payments from the other Asset Groups.

Components

For convenience in describing principal payments, YX consists of Components having the

designations and original balances shown under Terms Sheet Ì Components. The Components

together constitute a single Class and are not separately issued or transferable. However, the

discussions under Prepayment and Yield Analysis regarding the principal payment characteristics of

the various categories of Classes also apply to any Components within the same categories.

Retail Classes

Appendix IV to the OÅering Circular describes how we make principal payments on the Retail

Classes.

Class Factors

General

We make Class Factors available on or about the Ñfth business day of each month after the

Closing Date. See Description of CertiÑcates Ì Payments Ì Class Factors in the OÅering Circular.

Use of Factors

You can calculate principal and interest payments by using the Class Factors.

For example, the reduction (or for an Accrual Class, the increase) in the balance of a

CertiÑcate in February will equal its original balance times the diÅerence between its January and

February Class Factors. (The Class Factor for each Retail Class applies to that Class as a whole, not

to individual Retail Class Units, and disregards any rounding of principal payments.) The amount of

interest to be paid on (or for an Accrual Class, added to the principal amount of) a CertiÑcate in

February will equal 30 days' interest at its Class Coupon, accrued during the related Accrual Period,

on the balance of that CertiÑcate determined by its January Class Factor. (The interest payable on

each outstanding Retail Class Unit in February will be based on its $1,000 balance, without regard

to the January Class Factor.)

Guarantees

We guarantee to each Holder of a CertiÑcate the timely payment of interest at its Class

Coupon and the payment of its principal amount as described in this Supplement. See Description of

CertiÑcates Ì Payments Ì Guarantees in the OÅering Circular.

1% Clean-up Call

We have a 1% Clean-up Call Right. If we exercise this right, all of the Classes then outstanding

will be paid in full and will retire. See Description of CertiÑcates Ì Payments Ì 1% Clean-up Call

in the OÅering Circular.

S-13

Residual Proceeds

Upon surrender of their CertiÑcates to the Registrar, the Holders of each Residual Class will

receive the proceeds of any remaining assets of the related REMIC Pool after all required principal

and interest payments on the Classes have been made. Any remaining assets are likely to be

insigniÑcant. For R, they will include the Retail Rounding Account. See Description of CertiÑ-

cates Ì Payments Ì Residual Classes in the OÅering Circular.

PREPAYMENT AND YIELD ANALYSIS

General

Mortgage Prepayments

The rates of principal payments on the Assets and the CertiÑcates will depend on the rates of

principal payments, including prepayments, on the underlying Mortgages. The Mortgages are

subject to prepayment at any time without penalty. Mortgage prepayment rates Öuctuate continu-

ously and, in some market conditions, substantially. See Prepayment, Yield and Suitability

Considerations Ì Prepayments in the OÅering Circular for a discussion of Mortgage prepayment

considerations and risks.

Yield

As an investor in the CertiÑcates, your yield will depend on:

‚ Your purchase price.

‚ The rate of principal payments on the underlying Mortgages.

‚ The actual characteristics of the underlying Mortgages.

‚ If you own a Floating Rate or Inverse Floating Rate Class, the level of LIBOR.

‚ If you own a Fixed Rate or Delay Class, the delay between its Accrual Period and the

related Payment Date.

‚ If you own Retail Class Units, when they retire as a result of the special Retail Class

principal payment rules described in Appendix IV to the OÅering Circular.

See Prepayment, Yield and Suitability Considerations Ì Yields in the OÅering Circular for a

discussion of yield considerations and risks.

Suitability

The CertiÑcates may not be suitable investments for you. See Prepayment, Yield and

Suitability Considerations Ì Suitability in the OÅering Circular for a discussion of suitability

considerations and risks.

S-14

Modeling Assumptions

To prepare the tables in this Supplement, we have made several assumptions. Unless otherwise

noted, each table employs the following assumptions (the ""Modeling Assumptions''), among

others:

‚ The Mortgages have the characteristics shown under Terms Sheet Ì Assumed Mort-

gage Characteristics.

‚ The Classes and Assets always receive payments on the 15th of the month, whether or

not a Business Day.

‚ We do not exercise our 1% Clean-up Call Right.

‚ We do not round Retail Class principal payments to multiples of $1,000.

‚ Each Class is outstanding from the Closing Date to retirement and no exchanges occur.

The Modeling Assumptions, like any other stated assumptions, are likely to diÅer from actual

experience in many cases. For example, the Mortgages have characteristics more diverse than those

assumed, many Payment Dates will occur on a Business Day after the dates assumed and we may

exercise our 1% Clean-up Call Right. Moreover, Mortgage prepayment rates will diÅer from the

percentages of PSA shown in the tables. These diÅerences will aÅect the actual payment behavior,

weighted average lives and yields of the Classes, perhaps signiÑcantly.

See Prepayment, Yield and Suitability Considerations Ì Tabular Information in Supplements

in the OÅering Circular for descriptions of weighted average life and yield calculations and the PSA

prepayment model.

Prepayment and Weighted Average Life Considerations

PAC, Scheduled and TAC Classes

Principal payments on the PAC, Scheduled and TAC Classes should be more stable than

would be the case if they did not receive such payments, to the extent of available principal, in

accordance with their schedules. Moreover, they will have cumulative priorities for future payments

if they fall behind their schedules. Based on the Modeling Assumptions, except as otherwise

indicated below, each of these Classes has a range of constant Mortgage prepayment rates (an

""EÅective Range'') at which it would receive scheduled payments. The EÅective Range at any time

depends on the actual or assumed characteristics of the underlying Mortgages at that time. Based on

the Modeling Assumptions, except as otherwise indicated below, each PAC, Scheduled or TAC

Class would receive scheduled payments until retirement if the underlying Mortgages were to

prepay at any constant percentage of PSA within its initial EÅective Range shown in the following

table.

S-15

Initial EÅective Ranges

Class Range

Group 1Type I PAC

AB, AC, AD, AE, AG, AH, AJ, AK and PAÏÏÏÏÏÏÏÏÏ 100% PSA - 272% PSABA, BC, BD, BE, BG, BH, BJ, BK, KA, KB, KC, KD,

KE, KG, KH, KJ, KL and PB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100% PSA - 253% PSADA, DB, DC, DE, DG, DH, DJ, DK, MA, MB, MC,

MD, ME, MG, MH, MJ, MK and PC ÏÏÏÏÏÏÏÏÏÏÏÏ 100% PSA - 250% PSAEO and PE ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 84% PSA - 250% PSAPD ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 99% PSA - 250% PSA

Type II PACYX-1 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 119% PSA - 252% PSA

ScheduledYX-2 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 160% PSA - 245% PSA

TACZC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 275% PSA - 284% PSA

Group 2Type I PAC

AM, AN, AP, AT and CAÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100% PSA - 286% PSABM, BN, BP, BT, CB, EA, EB, EC, ED and EG ÏÏÏÏÏ 100% PSA - 256% PSACD and CEÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100% PSA - 250% PSACG and GO ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 85% PSA - 250% PSA

Type II PACJA and JZÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 109% PSA - 270% PSA

Group 3Scheduled

B ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 549% PSA - 656% PSAMR ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ None

The initial EÅective Ranges, if calculated using the actual characteristics of the Mortgages,

could diÅer from those shown in the table. Even if the Mortgages were to prepay at a constant rate

within the initial EÅective Range shown for any Class, but near the upper or lower end of that

EÅective Range, that Class might not receive scheduled payments.

Non-constant prepayment rates can cause any Class not to receive scheduled payments, even if

such rates remain within its EÅective Range, if any, shown above. The EÅective Ranges can narrow

or ""drift'' upward or downward over time. Under many scenarios the Classes shown in the table,

especially the Type II PAC, Scheduled and TAC Classes, would not receive scheduled payments.

Other Classes support the principal payment stability of the PAC, Scheduled and TAC

Classes, as shown below. When its supporting Classes all retire, any outstanding PAC, Scheduled or

TAC Class will become more sensitive to Mortgage prepayments and its EÅective Range, if any,

will no longer exist. If a Type II PAC, Scheduled or TAC Class supports any other Class at that

time, its principal payment behavior will become similar to that of a Support Class, as described

below.

S-16

Supporting ClassesClasses Supported by

Group 1Type I PACÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Type II PAC, Scheduled, TAC and SupportType II PAC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Scheduled, TAC and SupportScheduledÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ TAC and ZDTAC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ ZD

Group 2Type I PACÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Type II PAC and SupportType II PAC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Support

Group 3ScheduledÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Support

If the underlying Mortgages prepay at rates that are generally below the EÅective Range for

any Class, the available principal may be insuÇcient to produce scheduled payments on that Class

and its weighted average life may extend, perhaps signiÑcantly. If the underlying Mortgages prepay

at rates that are generally above the EÅective Range for any Class, its weighted average life may

shorten, perhaps signiÑcantly. However, the weighted average life of any PAC, Scheduled or TAC

Class could extend (or shorten) under some scenarios, including ""whipsaw'' scenarios, involving

Mortgage prepayments at rates that, on average, are above (or below) its EÅective Range.

We distribute all available principal monthly on each Payment Date and do not retain it for

distribution on subsequent Payment Dates. As a result, the likelihood that the PAC, Scheduled and

TAC Classes will receive scheduled payments will not beneÑt from averaging high and low principal

payments in diÅerent months.

Support Classes

The Support Classes support the principal payment stability of the PAC, Scheduled and TAC

Classes as described above. As a result, each Support Class is likely to be much more sensitive to

Mortgage prepayments than is any Class it supports. The Support Classes may receive no principal

payments for extended periods of time, and their principal payment rates may vary widely from

month to month. Relatively fast Mortgage prepayments may signiÑcantly shorten, and relatively

slow Mortgage prepayments may signiÑcantly extend, the weighted average lives of the Support

Classes.

MACR Classes

The payment characteristics of the MACR Classes reÖect the payment characteristics of their

related REMIC Classes.

Retail Classes

Principal payments on each Retail Class will depend on the prepayment rate on the underlying

Mortgages. As a result, it is uncertain when principal payments on the Retail Classes will begin, how

fast they will occur and when the Retail Classes will retire. Under some prepayment scenarios, your

Retail Class Units could retire on the Ñrst Payment Date. On the other hand, they could retire as

late as the Final Payment Date for your Retail Class.

The amount of principal available for payment on a Retail Class on any given Payment Date

will be limited. As a result, if you request a Retail Class principal payment, your request may not be

honored until long after you submit it. The likelihood that your request will be honored at any

particular time will depend in part on the number of Retail Class Units owned by Deceased Owners

S-17

who have a prior right of payment and on the number of Retail Class Units owned by other Living

Owners who have submitted requests. On the other hand, the amount of principal available for

payment on a Retail Class on any given Payment Date could exceed the amount necessary to honor

all requests. In that case, you may receive principal payments you did not request.

When prevailing interest rates are higher than the Class Coupon of a Retail Class, a greater

number of investors in that Class are likely to request Retail Class principal payments. At the same

time, however, Mortgage prepayment rates are likely to decline, reducing the funds available for

Retail Class principal payments. By contrast, Mortgage prepayment rates are likely to accelerate

when prevailing interest rates decline, while investors may be less likely to request Retail Class

principal payments. If your Retail Class Units are selected for payment under such conditions, you

may not be able to reinvest your payments in comparable securities at as high a yield.

The following tables show the amounts that would be available for principal payments on the

Retail Classes during the twelve-month periods indicated at various percentages of PSA. We have

prepared these tables using the Modeling Assumptions. Because you will receive principal payments

on your Retail Class in multiples of $1,000 and subject to special payment rules, you may not

receive a principal payment on any particular date.

S-18

Amounts Available for Principal Payments

Group 1

AA Class(Amounts in Thousands)

PSA Prepayment AssumptionTwelve ConsecutiveMonths Through 100% 170% 250% 500%

October 15, 2006 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ$ 0 $ 821 $2,111 $6,154October 15, 2007 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 1,109 2,753 2,834October 15, 2008 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 924 2,153 0October 15, 2009 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 713 1,537 0October 15, 2010 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 532 433 0October 15, 2011 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 378 0 0October 15, 2012 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 247 0 0October 15, 2013 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 227 0 0October 15, 2014 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 193 0 0October 15, 2015 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 270 0 0October 15, 2016 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 323 0 0October 15, 2017 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 357 0 0October 15, 2018 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 376 0 0October 15, 2019 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 603 383 0 0October 15, 2020 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 721 381 0 0October 15, 2021 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 747 373 0 0October 15, 2022 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 761 359 0 0October 15, 2023 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 764 342 0 0October 15, 2024 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 759 322 0 0October 15, 2025 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 748 301 0 0October 15, 2026 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 731 56 0 0October 15, 2027 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 711 0 0 0October 15, 2028 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 688 0 0 0October 15, 2029 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 663 0 0 0October 15, 2030 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 637 0 0 0October 15, 2031 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 454 0 0 0October 15, 2032 and after ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0

Total* ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ$8,988 $8,988 $8,988 $8,988

* Totals may not equal sums of columns due to rounding.

S-19

Group 2

WW Class(Amounts in Thousands)

PSA Prepayment AssumptionTwelve ConsecutiveMonths Through 100% 200% 250% 400%

October 15, 2006 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ$ 0 $ 330 $ 512 $1,060October 15, 2007 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 688 1,055 940October 15, 2008 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 799 433 0October 15, 2009 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 183 0 0October 15, 2010 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0October 15, 2011 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0October 15, 2012 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0October 15, 2013 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0October 15, 2014 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0October 15, 2015 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0October 15, 2016 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0October 15, 2017 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 74 0 0 0October 15, 2018 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 247 0 0 0October 15, 2019 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 279 0 0 0October 15, 2020 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 301 0 0 0October 15, 2021 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 316 0 0 0October 15, 2022 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 324 0 0 0October 15, 2023 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 328 0 0 0October 15, 2024 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 131 0 0 0October 15, 2025 and after ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0

Total* ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ$2,000 $2,000 $2,000 $2,000

* Totals may not equal sums of columns due to rounding.

The amounts available for principal payments on a Retail Class during any twelve-month

period are likely to diÅer in many cases from the amounts shown in its table.

The weighted average lives of each Retail Class shown in the declining balances table below

apply to that Class as a whole; the weighted average lives of your Retail Class Units will vary, and

may vary signiÑcantly, from the weighted average life of the related Retail Class. We cannot predict

the weighted average life of a Retail Class as a whole, much less the weighted average life of any

particular Retail Class Unit.

Declining Balances Table

The following table shows:

‚ Percentages of original balances (as of the Closing Date) that would be outstanding

after each of the Payment Dates shown at various percentages of PSA.

‚ Corresponding weighted average lives.

We have prepared this table using the Modeling Assumptions. However, for 0% PSA we have

assumed that each Mortgage underlying the Group 1 or 2 Assets (a) has an interest rate

2.5% higher than that of the related PCs and (b) has a remaining term to maturity of 360 months

and a loan age of 0 months. We have calculated weighted average lives for each Notional Class

assuming that a reduction in its notional principal amount is a reduction in principal balance.

S-20

Percentages of Original Balances Outstanding* and Weighted Average Lives

Group 1

AA**, DS, FA, FD, GA, SA AB, AC, AD, AE, AG, AH, BA, BC, BD, BE, BG, BH, DA, DB, DC, DE, DG, DH,and SD AI, AJ, AK and PA BI, BJ, BK and PB DI, DJ, DK and PC

PSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption

Date 0% 100% 170% 250% 500% 0% 100% 170% 250% 500% 0% 100% 170% 250% 500% 0% 100% 170% 250% 500%

Closing Date ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100October 15, 2006 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 91 77 32 97 84 84 84 84 100 100 100 100 100 100 100 100 100 100October 15, 2007 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 79 46 0 94 62 62 62 52 100 100 100 100 100 100 100 100 100 100October 15, 2008 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 68 22 0 91 41 41 41 0 100 100 100 100 87 100 100 100 100 100October 15, 2009 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 60 5 0 88 21 21 21 0 100 100 100 100 0 100 100 100 100 62October 15, 2010 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 54 0 0 84 2 2 2 0 100 100 100 100 0 100 100 100 100 0October 15, 2011 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 50 0 0 80 0 0 0 0 100 49 49 49 0 100 100 100 100 0October 15, 2012 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 47 0 0 76 0 0 0 0 100 0 0 0 0 100 94 94 94 0October 15, 2013 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 45 0 0 71 0 0 0 0 100 0 0 0 0 100 48 48 48 0October 15, 2014 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 43 0 0 66 0 0 0 0 100 0 0 0 0 100 7 7 7 0October 15, 2015 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 40 0 0 61 0 0 0 0 100 0 0 0 0 100 0 0 0 0October 15, 2016 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 36 0 0 55 0 0 0 0 100 0 0 0 0 100 0 0 0 0October 15, 2017 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 32 0 0 48 0 0 0 0 100 0 0 0 0 100 0 0 0 0October 15, 2018 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 28 0 0 41 0 0 0 0 100 0 0 0 0 100 0 0 0 0October 15, 2019 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 93 24 0 0 34 0 0 0 0 100 0 0 0 0 100 0 0 0 0October 15, 2020 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 85 20 0 0 25 0 0 0 0 100 0 0 0 0 100 0 0 0 0October 15, 2021 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 77 15 0 0 16 0 0 0 0 100 0 0 0 0 100 0 0 0 0October 15, 2022 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 68 11 0 0 7 0 0 0 0 100 0 0 0 0 100 0 0 0 0October 15, 2023 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 60 8 0 0 0 0 0 0 0 88 0 0 0 0 100 0 0 0 0October 15, 2024 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 52 4 0 0 0 0 0 0 0 51 0 0 0 0 100 0 0 0 0October 15, 2025 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 43 1 0 0 0 0 0 0 0 10 0 0 0 0 100 0 0 0 0October 15, 2026 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 35 0 0 0 0 0 0 0 0 0 0 0 0 0 70 0 0 0 0October 15, 2027 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 27 0 0 0 0 0 0 0 0 0 0 0 0 0 27 0 0 0 0October 15, 2028 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 20 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0October 15, 2029 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 12 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0October 15, 2030 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0October 15, 2031 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0October 15, 2032 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 95 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0October 15, 2033 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 60 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0October 15, 2034 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 23 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0October 15, 2035 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Weighted AverageLife (Years)ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 28.3 19.3 8.1 2.0 0.7 10.8 2.6 2.6 2.6 1.9 19.0 6.0 6.0 6.0 3.3 21.5 8.0 8.0 8.0 4.1

KA, KB, KC, KD, KE, KG, MA, MB, MC, MD, ME,EI, EO and PE IT KH, KI, KJ and KL MG, MH, MI, MJ and MK


Date 0% 100% 170% 250% 500% 0% 100% 170% 250% 500% 0% 100% 170% 250% 500% 0% 100% 170% 250% 500%



* Rounded to nearest whole percentage.** The Ñgures for each Retail Class apply to that Class as a whole. The payment behavior and weighted average lives of Retail Class Units will vary

among diÅerent investors.

S-21

PD PO YX

PSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption

Date 0% 100% 170% 250% 500% 0% 100% 170% 250% 500% 0% 100% 170% 250% 500%

Closing Date ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100October 15, 2006 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 100 100 93 83 50 96 96 83 83 83October 15, 2007 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 100 100 84 61 0 92 92 62 62 0October 15, 2008 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 100 100 77 43 0 88 88 44 44 0October 15, 2009 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 100 100 71 31 0 83 83 30 30 0October 15, 2010 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 83 100 100 67 18 0 78 78 18 18 0October 15, 2011 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 31 100 100 64 7 0 73 73 9 9 0October 15, 2012 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 0 100 100 62 2 0 67 67 2 2 0October 15, 2013 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 0 100 100 60 0 0 62 62 0 0 0October 15, 2014 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 0 100 100 58 0 0 55 54 0 0 0October 15, 2015 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 74 74 74 0 100 100 56 0 0 49 41 0 0 0October 15, 2016 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 47 47 47 0 100 100 54 0 0 42 26 0 0 0October 15, 2017 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 24 24 24 0 100 100 51 0 0 42 15 0 0 0October 15, 2018 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 5 5 5 0 100 100 48 0 0 42 2 0 0 0October 15, 2019 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 100 95 45 0 0 42 0 0 0 0October 15, 2020 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 100 89 41 0 0 42 0 0 0 0October 15, 2021 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 100 83 38 0 0 42 0 0 0 0October 15, 2022 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 100 77 36 0 0 42 0 0 0 0October 15, 2023 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 100 71 33 0 0 42 0 0 0 0October 15, 2024 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 100 65 30 0 0 42 0 0 0 0October 15, 2025 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 100 59 28 0 0 42 0 0 0 0October 15, 2026 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 100 53 24 0 0 42 0 0 0 0October 15, 2027 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 100 47 20 0 0 42 0 0 0 0October 15, 2028 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 82 0 0 0 0 100 41 16 0 0 42 0 0 0 0October 15, 2029 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 35 0 0 0 0 100 36 12 0 0 42 0 0 0 0October 15, 2030 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 100 31 9 0 0 42 0 0 0 0October 15, 2031 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 100 25 6 0 0 42 0 0 0 0October 15, 2032 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 96 15 4 0 0 0 0 0 0 0October 15, 2033 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 71 6 2 0 0 0 0 0 0 0October 15, 2034 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 44 0 0 0 0 0 0 0 0 0October 15, 2035 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Weighted AverageLife (Years)ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 23.7 11.0 11.0 11.0 5.7 28.7 21.4 12.4 2.9 1.0 14.7 8.3 3.0 3.0 1.4

ZC ZD Group 1 Assets

PSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption

Date 0% 100% 170% 250% 500% 0% 100% 170% 250% 500% 0% 100% 170% 250% 500%

Closing Date ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100October 15, 2006 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 106 106 103 80 26 106 106 106 106 0 99 95 92 89 80October 15, 2007 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 112 112 103 51 0 112 112 112 112 0 98 88 82 76 56October 15, 2008 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 119 119 104 30 0 119 119 119 119 0 97 82 73 63 39October 15, 2009 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 126 126 104 16 0 126 126 126 126 0 96 75 64 53 27October 15, 2010 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 133 133 105 0 0 133 133 133 113 0 95 70 57 44 18October 15, 2011 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 141 141 106 0 0 141 141 141 32 0 94 64 50 37 13October 15, 2012 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 149 149 107 0 0 149 149 149 9 0 92 59 44 31 9October 15, 2013 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 158 158 106 0 0 158 158 154 0 0 91 54 38 25 6October 15, 2014 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 168 168 102 0 0 168 168 154 0 0 89 50 34 21 4October 15, 2015 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 177 177 98 0 0 177 177 154 0 0 88 45 29 17 3October 15, 2016 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 188 92 0 0 188 188 154 0 0 86 41 26 14 2October 15, 2017 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 188 86 0 0 189 189 154 0 0 84 38 22 12 1October 15, 2018 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 188 79 0 0 189 189 154 0 0 82 34 19 10 1October 15, 2019 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 177 72 0 0 189 189 154 0 0 79 31 17 8 1October 15, 2020 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 164 65 0 0 189 189 154 0 0 77 28 14 6 0October 15, 2021 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 151 59 0 0 189 189 154 0 0 74 25 12 5 0October 15, 2022 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 138 52 0 0 189 189 154 0 0 71 22 10 4 0October 15, 2023 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 124 46 0 0 189 189 154 0 0 68 19 9 3 0October 15, 2024 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 111 41 0 0 189 189 154 0 0 64 17 7 3 0October 15, 2025 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 97 35 0 0 189 189 154 0 0 60 15 6 2 0October 15, 2026 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 84 26 0 0 189 189 154 0 0 56 13 5 2 0October 15, 2027 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 72 17 0 0 189 189 154 0 0 52 11 4 1 0October 15, 2028 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 60 9 0 0 189 189 154 0 0 47 9 3 1 0October 15, 2029 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 48 1 0 0 189 189 154 0 0 42 7 2 1 0October 15, 2030 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 36 0 0 0 189 189 120 0 0 36 5 2 0 0October 15, 2031 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 188 23 0 0 0 189 189 83 0 0 30 4 1 0 0October 15, 2032 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 180 2 0 0 0 189 189 50 0 0 23 2 1 0 0October 15, 2033 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 125 0 0 0 0 189 85 20 0 0 16 1 0 0 0October 15, 2034 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 64 0 0 0 0 189 0 0 0 0 8 0 0 0 0October 15, 2035 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Weighted AverageLife (Years)ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 28.5 20.4 16.7 2.3 0.8 29.9 27.9 26.3 5.7 0.2 20.5 10.5 7.7 5.8 3.1

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Group 2

AM, AN, AP, AT, CA BM, BN, BP, BT, CBand IM and IB CD CE


Date 0% 100% 200% 250% 400% 0% 100% 200% 250% 400% 0% 100% 200% 250% 400% 0% 100% 200% 250% 400%



FM, SK, SM, WACG, GI and GO EA, EB, EC, ED, EG and IA and WW** FW and SW


Date 0% 100% 200% 250% 400% 0% 100% 200% 250% 400% 0% 100% 200% 250% 400% 0% 100% 200% 250% 400%



** The Ñgures for each Retail Class apply to that Class as a whole. The payment behavior and weighted average lives of Retail Class Units will varyamong diÅerent investors.

S-23

JA JZ WO Group 2 Assets


Date 0% 100% 200% 250% 400% 0% 100% 200% 250% 400% 0% 100% 200% 250% 400% 0% 100% 200% 250% 400%



Group 3

B MR ZM Group 3 Assets


Date 0% 100% 311% 500% 700% 0% 100% 311% 500% 700% 0% 100% 311% 500% 700% 0% 100% 311% 500% 700%

Closing Date ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100October 15, 2006 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 98 93 81 70 63 105 105 105 105 0 99 93 83 73 62October 15, 2007 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 97 85 63 46 34 110 110 110 110 0 97 87 66 50 36October 15, 2008 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 95 78 49 29 18 116 116 116 116 0 96 80 53 35 20October 15, 2009 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 93 71 37 17 9 122 122 122 122 0 94 74 42 24 12October 15, 2010 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 91 65 28 9 3 128 128 128 128 0 92 68 34 16 7October 15, 2011 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 89 59 20 3 0 135 135 135 135 0 91 63 27 11 4October 15, 2012 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 80 58 86 53 14 0 0 142 142 142 142 0 89 58 21 8 2October 15, 2013 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 35 33 84 48 9 0 0 149 149 149 119 0 87 53 17 5 1October 15, 2014 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 20 19 81 43 5 0 0 157 157 157 85 0 84 49 14 4 1October 15, 2015 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 11 11 78 38 2 0 0 165 165 165 60 0 82 44 11 2 0October 15, 2016 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 71 6 6 75 33 0 0 0 173 173 173 42 0 79 41 8 2 0October 15, 2017 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 14 3 3 72 29 0 0 0 182 182 182 29 0 77 37 7 1 0October 15, 2018 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 2 2 2 69 25 0 0 0 191 191 152 20 0 74 33 5 1 0October 15, 2019 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 1 1 1 65 21 0 0 0 201 201 119 14 0 71 30 4 1 0October 15, 2020 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 1 1 1 61 17 0 0 0 211 211 93 9 0 68 27 3 0 0October 15, 2021 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 0 0 0 57 14 0 0 0 222 222 72 6 0 64 24 2 0 0October 15, 2022 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 0 0 0 53 10 0 0 0 234 234 55 4 0 60 21 2 0 0October 15, 2023 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 0 0 0 48 7 0 0 0 246 246 42 3 0 56 19 1 0 0October 15, 2024 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 0 0 0 43 4 0 0 0 258 258 31 2 0 52 16 1 0 0October 15, 2025 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 0 0 0 38 1 0 0 0 271 271 23 1 0 48 14 1 0 0October 15, 2026 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 60 0 0 0 32 0 0 0 0 285 285 17 1 0 43 12 1 0 0October 15, 2027 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 26 0 0 0 0 300 290 12 0 0 38 10 0 0 0October 15, 2028 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 19 0 0 0 0 315 234 9 0 0 32 8 0 0 0October 15, 2029 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 13 0 0 0 0 331 180 6 0 0 27 6 0 0 0October 15, 2030 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 0 0 0 0 5 0 0 0 0 348 130 4 0 0 20 4 0 0 0October 15, 2031 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 42 0 0 0 0 0 0 0 0 0 366 83 2 0 0 14 3 0 0 0October 15, 2032 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 203 39 1 0 0 7 1 0 0 0October 15, 2033 and afterÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0


S-24

Yield Tables

The following tables show pre-tax yields to maturity (corporate bond equivalent) of speciÑed

Classes at various percentages of PSA and levels of LIBOR, if applicable. We have prepared these

tables using the Modeling Assumptions and the assumed prices in the table captions, plus accrued

interest, if any. Actual sales will not necessarily occur at the assumed prices.

Pre-Tax Yields

Group 1

AI Class(Assumed Price: 10.0%)

100% PSAthrough

50% PSA 272% PSA 500% PSA 508% PSA

39.7% 22.4% 1.0% 0.0%

BI Class(Assumed Price: 20.0%)

100% PSAthrough

50% PSA 253% PSA 441% PSA 500% PSA

25.4% 18.3% 0.0% (6.9)%

DI Class(Assumed Price: 30.5%)

100% PSAthrough

50% PSA 250% PSA 369% PSA 500% PSA

15.2% 9.6% 0.0% (12.9)%

DS Class(Assumed Price: 99.0%)

LIBOR 100% PSA 170% PSA 250% PSA 500% PSA

2.86%ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9.0% 9.0% 9.3% 9.8%3.86 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 7.2 7.3 7.6 8.25.08 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5.2 5.2 5.5 6.26.30 and Higher ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3.1 3.2 3.5 4.3

EI Class(Assumed Price: 42.625%)

84% PSAthrough

50% PSA 250% PSA 500% PSA 599% PSA

11.5% 11.0% 4.0% 0.0%

EO Class(Assumed Price: 55.0%)

84% PSAthrough

50% PSA 250% PSA 500% PSA

3.2% 3.5% 6.6%

S-25

IT Class(Assumed Price: 15.0%)

160% PSAthrough

100% PSA 245% PSA 250% PSA 264% PSA 500% PSA

26.9% 3.8% 3.8% (0.1)% (75.9)%

KI Class(Assumed Price: 12.5%)

100% PSAthrough

50% PSA 253% PSA 469% PSA 500% PSA

32.1% 19.5% 0.1% (3.8)%

MI Class(Assumed Price: 14.0%)

100% PSAthrough

50% PSA 250% PSA 470% PSA 500% PSA

29.1% 18.7% 0.0% (3.4)%

PO Class(Assumed Price: 80.0%)

100% PSA 170% PSA 250% PSA 500% PSA

1.0% 1.9% 8.1% 25.7%

SA Class(Assumed Price: 99.5%)



SD Class(Assumed Price: 98.5%)



Group 2

GI Class(Assumed Price: 40.25%)

85% PSAthrough

50% PSA 250% PSA 400% PSA 611% PSA

11.0% 10.5% 7.1% 0.0%

S-26

GO Class(Assumed Price: 53.375%)

85% PSAthrough

50% PSA 250% PSA 400% PSA

3.3% 3.6% 5.3%

IA Class(Assumed Price: 12.625%)

100% PSAthrough

50% PSA 256% PSA 400% PSA 519% PSA

28.1% 17.4% 9.5% 0.0%

IB Class(Assumed Price: 19.25%)

100% PSAthrough

50% PSA 256% PSA 400% PSA 456% PSA

23.0% 15.9% 4.9% 0.0%

IM Class(Assumed Price: 10.125%)

100% PSAthrough

50% PSA 286% PSA 400% PSA 582% PSA

33.2% 18.6% 13.5% 0.0%

SK Class(Assumed Price: 99.75%)



SM Class(Assumed Price: 99.5625%)



S-27

SW Class(Assumed Price: 85.0%)



WO Class(Assumed Price: 70.0%)

100% PSA 200% PSA 250% PSA 400% PSA

1.8% 6.0% 12.4% 23.2%

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FINAL PAYMENT DATES

The Final Payment Date for each Class is the latest date by which it will be paid in full and will

retire. We calculate Final Payment Dates using highly conservative assumptions. The actual

retirement of each Class may occur earlier than its Final Payment Date.

CERTAIN FEDERAL INCOME TAX CONSEQUENCES

General

Any discussion of tax matters herein and in the OÅering Circular was not intended or written to

be used, and cannot be used, by any person for the purpose of avoiding tax penalties that may be

imposed on such person. Such discussion was written to support the promotion and marketing of the

CertiÑcates. Investors should consult their own i

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